401(k) Options After You’ve Left Your Job

Have you been diligently saving money in your 401(k)? What should you do with it when you switch jobs? There are four main options to consider, and one of them should be used only when absolutely necessary.

(Image credit: Getty Images)

So, you have been laid off or left your previous employer. This transitional period may be full of decisions, such as balancing unemployment insurance, health care insurance, and other important life decisions. Of course, retirement planning is still important, but what are your options with your old 401(k)?

Stay in the existing plan

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Matthew Stratman
Financial Adviser, Western International Securities

Matt Stratman is a financial adviser at Western International Securities in Southern California. His focus is helping business owners and entrepreneurs who are planning for retirement. With a strong, client-centered approach he creates personalized investment strategies to help them reach their financial goals. Matt is extremely passionate about retirement planning, believing the better prepared a person is, the more fulfilling their retirement will be.